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Cable Update (GBPUSD)

  • #545,301
  • Aug 30, 2020 10:53pm Aug 30, 2020 10:53pm
1.35 is a scary number. if it finds support there, dollar is dead. 1.50 will happen imo if that is the case. otherwise i still see 1.20 until christmas. maybe march (if so, would suggest seasonal y/y dollar trend change) i am no dollar bull, but we are stretching for sure. i try to stay flat and short dollar unless the month end has something to say about it.
  • #545,302
  • Aug 30, 2020 10:57pm Aug 30, 2020 10:57pm
be careful
Let the market decide
  • #545,303
  • Aug 30, 2020 11:03pm Aug 30, 2020 11:03pm
Quoting WhipKream
1.35 is a scary number. if it finds support there, dollar is dead. 1.50 will happen imo if that is the case. otherwise i still see 1.20 until christmas. maybe march (if so, would suggest seasonal y/y dollar trend change) i am no dollar bull, but we are stretching for sure. i try to stay flat and short dollar unless the month end has something to say about it.
Dollar is not dead, market is trading at a normal level, what goes up must surely come down, 1.35 and then the fall starts.
  • #545,304
  • Aug 30, 2020 11:12pm Aug 30, 2020 11:12pm
Quoting epzero
{quote} Dollar is not dead, market is trading at a normal level, what goes up must surely come down, 1.35 and then the fall starts.
hey i think parity is fair, but dont fight the fed ya know?
  • #545,305
  • Aug 30, 2020 11:24pm Aug 30, 2020 11:24pm
Quoting WhipKream
{quote} hey i think parity is fair, but dont fight the fed ya know?
i am 100% sure cable will bounce at 1.35 not because of the fed but because lots of buyers will exit their position.
  • #545,306
  • Aug 30, 2020 11:31pm Aug 30, 2020 11:31pm
Quoting epzero
{quote} i am 100% sure cable will bounce at 1.35 not because of the fed but because lots of buyers will exit their position.
monthly close so bullish i wouldnt be so sure. id be happy to see it, but not a trade i would take. 1.35 is a neckline, and there's no liquidity up here. from 1.35 to 1.50 there is no supply. heavy rejection at 1.35 will have me eat my words and short some.
  • #545,307
  • Aug 30, 2020 11:48pm Aug 30, 2020 11:48pm
Still going up for a while, nice momentum.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd31aout.png Size: 44 KB
60-75 pips, then a base / consolidation.

I'm testing my psycho at this level, usually I don't trade in this kind of situation.
Let the market decide
  • #545,308
  • Edited 1:15am Aug 31, 2020 12:05am | Edited 1:15am
i see some shorts, but really, on the weekly, its just too bullish. if today is a nice bearish day and monthly becomes a bearish pin, i will short like i said to 1.20 if it goes there. we have some rejection on the white supply box, and cot says momentum stalled. this could have been a clearance of the shorts which were building before 1.35, and today could be 2 day reversal again. my std dev is high on the 4hr, so more or less this could just be more range and bullish consolidation before a break down. i am waiting.
Attached Image (click to enlarge)
Click to Enlarge Name: gud183120.PNG Size: 213 KB

and higher up, its just too wide open. really, idk what they were thinking. long term price shock effects? now the melt up though.....
Attached Image (click to enlarge)
Click to Enlarge Name: guw183120.PNG Size: 180 KB



1.34 last stand chance for bears. 20% from the bottom, 10% from the monthly tail.
  • #545,309
  • Aug 31, 2020 12:12am Aug 31, 2020 12:12am
There are not any short vibrations whatsoever at the moment...
Maadik Hugiis. IQ 69.
  • #545,310
  • Aug 31, 2020 12:48am Aug 31, 2020 12:48am
dx broke 92.500 , it's going down.
gu will not rest until it get to 1.35 , so only long trades for until that.
weekly open is above weekly pivot, so main target is weekly r1.
The price does not have to go down to check the weekly pivot, so I took it from here.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: dx1.png Size: 44 KB
yes yes yes
  • #545,311
  • Aug 31, 2020 1:06am Aug 31, 2020 1:06am
Quoting Moty
dx broke 92.500 , it's going down. gu will not rest until it get to 1.35 , so only long trades for until that. weekly open is above weekly pivot, so main target is weekly r1. The price does not have to go down to check the weekly pivot, so I took it from here. {image} {image}

NFP week, so wide zig zag, in a range, makes sense, too...
Maadik Hugiis. IQ 69.
  • #545,312
  • Aug 31, 2020 1:08am Aug 31, 2020 1:08am
at the last friday london was close below daily range,Interesting
  • #545,313
  • Aug 31, 2020 1:08am Aug 31, 2020 1:08am
Attached Image (click to enlarge)
Click to Enlarge Name: GU1.gif Size: 96 KB

Monthly candle on breaking nearest TL
Attached Image (click to enlarge)
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  • #545,314
  • Aug 31, 2020 1:08am Aug 31, 2020 1:08am
I'm probably wrong.
Let the market decide
  • #545,315
  • Aug 31, 2020 1:17am Aug 31, 2020 1:17am
Quoting MondumaFx
I'm probably wrong.
You are not wrong but you are cute
  • #545,316
  • Aug 31, 2020 1:19am Aug 31, 2020 1:19am
Quoting MondumaFx
I'm probably wrong.
I had to scroll up to see what your 'Probably wrong' about.....LOL

A prop trader I knew Adam would always say "price heads in the direction to hurt most traders" this is because the banks have an Eagle's eye view on where all orders and SLs lay.
Were all now conditioned to think that 1.35 is imminent but with London closed for a holiday I'm thinking there is not much chance of that happening, some time this week it can happen but not today IMO
I could be wrong
Don't Leave Money on the Table
  • #545,317
  • Aug 31, 2020 1:29am Aug 31, 2020 1:29am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: dx1.png Size: 41 KB
yes yes yes
  • #545,318
  • Aug 31, 2020 1:29am Aug 31, 2020 1:29am
I will be waiting to see the FIRST bull to flip his position to sell today.

Expect the metamorphosis!!!
  • #545,319
  • Aug 31, 2020 1:30am Aug 31, 2020 1:30am
If price stays under 10ema were heading south, have a sell trade from last week I had mostly hedged so happy to close around 1.33. Made all my money on The Dragon last Friday
Eur/Gbp being bought
Attached Image (click to enlarge)
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Don't Leave Money on the Table
  • #545,320
  • Aug 31, 2020 1:36am Aug 31, 2020 1:36am
Quoting pipcenturion
I will be waiting to see the FIRST bull to flip his position to sell today. Expect the metamorphosis!!!
Fatal morphosis ?
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